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Aramco to expand in Indian market

Pradhan inaugurates Aramco office in Gurugram

Saudi Aramco, the world’s largest energy group, is planning to expand its operation in India by introducing hydrocarbon sector services, including engineering services, IT operations & security as well as R&D centre in near future.

Saudi Aramco intends to partner with Indian companies and set up integrated business ventures in the hydrocarbon value chain in India including to boost “Make in India” activities.

Minister of Petroleum and Natural Gas Dharmendra Pradhan has inaugurated Saudi Aramco’s subsidiary office in Gurugram on 8 October 2017.

ARAMCO Asia India (AAI), which established its formal business presence in India in 2016, would now formally engage in crude oil and LPG marketing, engineering & technical services, and other business development activities.

Speaking on the occasion Pradhan pointed out that India is one of the biggest markets for Saudi oil and LPG.

He said that he was delighted to jointly inaugurate the Saudi Aramco’s Office in India which will help in strengthening the existing buyer – supplier relationship between the two sides to a strategic partnership in the hydrocarbon sector.

Saudi Arabia is the second largest supplier of crude to India after Iraq. It accounts for about 19% of India’s crude oil imports and 29% of LPG imports, respectively.

During 2016-17, India imported about 39.5 MMT of crude from Saudi Arabia. fii-news.com